Today, the Conservative Government are awarding £196 million to build Europe’s first high-tech nuclear fuel facility as we stick with the plan to strengthen our domestic energy security, isolate Russia from global energy markets, and provide reliable, affordable energy.
- Since Putin’s illegal invasion of Ukraine, the UK has led the way in cracking down on Russian oil and gas imports. We are sticking with the plan to push Russian influence out of the energy market by awarding £196 million to Urenco to build the first high-tech nuclear fuel facility in Europe, producing advanced nuclear fuel to export or use domestically, powering British homes in the next decade and supporting around 400 highly-skilled jobs.
- By investing in the new generation of nuclear fuel, we are sticking with the plan to strengthen our domestic energy security, drive down energy bills, and push Putin out of the global energy market. Meanwhile Sir Keir Starmer remains committed to Labour’s unfunded 2030 decarbonisation promise, which they themselves costed at £28 billion per year, which would mean more borrowing and higher taxes, taking the country back to square one.
Urenco will construct a uranium enrichment facility at Capenhurst, Cheshire. This facility is expected to produce high-assay low enriched uranium (HALEU) fuel by 2031 for either export or domestic use.
The Government stated that this initiative would support 400 highly skilled jobs, power future UK nuclear power stations and ensure other countries are not dependent on Russia for advanced nuclear fuel, a market which Russia and their allies currently dominate. Ministers have said this is part of efforts to enhance energy security and isolate Moscow from energy markets, following actions to halt imports of Russian oil and gas after the illegal invasion of Ukraine
Mr Sunak said: "Building our own uranium enrichment plant is essential if we want to prise Putin's blood-soaked hands off Europe's energy market. Russia has been the sole provider of this powerful nuclear fuel for too long and this marks the latest step in pushing him out of the energy market entirely."
"The wider future of British nuclear remains a critical national endeavour guaranteeing nuclear and energy security, and reducing energy bills for Brits."
